Snapdeal Employees Protest After Being Put On Probation
Incredible scenes were witnessed at Snapdeal’s New Delhi office after the company put 200 of its employees on a Performance Improvement Plan.
Author: Bart Eshwar
Bart Eshwar is interested in startups, business and green tea. He is currently nursing an unhealthy obsession with Donald Trump.
Snapdeal On The Verge Of Letting Go Of 200 Employees
The spate of employee layoffs has finally reached e-retail companies. After Helpchat, Zomato, TinyOwl and several others had fired employees over the course of the last few months, it has emerged that Snapdeal is on the verge of laying off as many as 200 employees from its workforce.
500 Startups Launches 500 Kulfi, An India-focussed Fund
“India’s looking as sweet as Kulfi!” to 500 Startups at the moment, as it has launched 500 Kulfi, a $25 million India-focussed fund. The fund will be sector agnostic, but will focus on FinTech, EdTech, Health & Wellness, Data Analytics, Content and SaaS and SMB.
Following Zika Virus Outbreak, Tata Rebrands Zica As Tiago
The Zika virus, which has been spreading across South America and has people in the US panicking, has had an unexpected fallout in faraway India. Tata Motors was all set to launch its new hatchback, rather unfortunately named Zica, when news of the virus outbreak started grabbing headlines last month. Tata realized that it would be hard to market a car that was named after a virus killing thousands of people, and decided to rebrand Zica.
How A Snapdeal Glitch Enabled A College Kid To Buy An iPhone 5S For Rs. 68
Snapdeal is known for giving away some unbelievable discounts, but this was a discount that seemed too good to be true. Punjab University B.Tech student Nikhil Bansal was browsing through the site when he came across an iPhone 5S that was at 99.97% off. While others might’ve dithered, thinking this was a technical glitch, Bansal immediately ordered the phone. He paid Rs. 68, or $1, for a shiny new iPhone 5S.
TCS Extends Its Notice Period To 3 Months
You have a long waiting period in store if you’re trying to leave your TCS job. India’s largest employer in the IT services industry has announced that it is extending its notice period to 3 months starting March this year. The current notice period at the company is one month.
Paytm Does Away With Transaction Fees For Offline Merchants
Paytm is pulling out all stops to get ordinary Indians to transact digitally. After it was revealed that it had spent Rs. 588 crore in customer cashbacks last year, it has now scrapped transaction fees for offline merchants for its wallet transactions. This fees was applied to all transactions and ranged between 0.5% to 2.5% of the transaction value.
TVF Raises $10 Million From Tiger Global, Valued At Rs. 270 Crore
You’d think that a company whose flagship product is called “Qtiyapa” wouldn’t be an ideal candidate for investment from a big top-tier VC, but you’d be wrong. The Viral Fever, the comedy collective that has made hit online series including TVF Pitchers and Permanent Roomates, has just raised $10 million from Tiger Global. The investment values the six year old company at Rs. 270 crore.
The App-Only Trend Seems To Be Officially Dead; Myntra Reopens Mobile Website
It now appears that the final nail has been dug into the “app-only” coffin. Flipkart’s fashion brand Myntra, which had shut down its site and had been available solely on its app since May last year, is now back with its mobile website.